Lunc validator burns all commissions for the rest of the year and calls on other validators to participate

Lunc validator burns all commissions for the rest of the year and calls on other validators to participate

Community validators at Terra Classic burn their commissions

In a surprising announcement, the operator of the community validator at Terra Classic announced that it would burn all of the commissions for the rest of the year. This decision was made as support for Binance and his participation in the burning of Lunc tokens, and other validators are encouraged to do the same.

Classy Sphere, a Lunc validator who is currently acting as the operator of the community validier, announced the news on Twitter. In his tweet, he explained that he would burn 100% of his commissions by the end of the year. This step is intended to help bring the price of the Lunc token to $ 1 in the long term.

The combustion of the commissions will remove millions of LUNC from the network and further reduce the offer. Classy Sphere called other validators to participate in the combustion and contribute to the overall development of the network.

The Luna Classic HQ recently announced that the combustion rate of Terra Classic (Lunc) is approaching 70 billion. The current combustion rate is 68,303,850,914, which only makes up 0.99% of the total offer of Lunc.

The reaction to the announcement and the burns are mixed. Some community members are skeptical and believe that the combustion has contributed little to inspire the lunc bulls. Others, on the other hand, are confident that the combustion will pay off in the long term.

At the time of publication of this article, the Lunc token has increased almost 3% and is traded for $ 0.0000838.

The combustion of commissions by the community validators at Terra Classic is a remarkable step that is support for Binance and participation in the burning of lunc tokens. It remains to be seen how these burns will affect the price and future of Lunc token.